Saudi Arabia's Crown Prince Mohammed bin Salman has declined Israeli Prime Minister Benjamin Netanyahu's request for military cooperation against the Houthis. This opposition stems from concerns about public reaction to collaboration with Israel. Recent Houthi attacks highlight the immediate security threat to Saudi infrastructure and civilians. Saudi Arabia maintains its stance that normalization with Israel requires progress on Palestinian statehood.
Kumar Mangalam Birla announced plans to invest $30 billion over the next two to three years. This investment will target businesses both in India and internationally, reflecting the group's global operations. The Aditya Birla Group will allocate $5 billion for a new aluminum recycling plant in Alabama. Birla acknowledged that geopolitical issues complicate investment decisions and have changed strategies.
Reliance Jio has reserved up to Rs 2,500 crore worth of shares for eligible Reliance Industries shareholders in its upcoming IPO. The quota offers RIL investors a direct route to apply for Jio Platforms shares. The IPO opens on October 21, with anchor investor bidding starting October 19.
The German airline outbid Air France-KLM, the only other company in the race, Portuguese Prime Minister Luis Montenegro said. The government set aside 5 per cent of the company for its more than 9,000 employees to buy shares, with the government remaining the main shareholder.
Wall Street's major indices took a hit as an inflation report outpaced forecasts, sparking heightened speculation about rate increases. Investors are closely reviewing earnings from key banks, highlighting concerns over escalating inflation. The notable market fluctuations suggest a likelihood of rising interest rates as the economy continues to be assessed.
The Singapore-flagged GFS Pride container ship, with a small 2,824 TEU (20-ft equivalent unit) capacity, had sunk, the sources said. The vessel's United Arab Emirates-based manager GFS Ship Management FZE could not be immediately reached for comment.
India and Russia conducted the seventh round of talks on Pakistan and Afghanistan in New Delhi. The meeting was co-chaired by Pavan Kapoor and Aleksandr Venediktov, focusing on international security. Both sides reaffirmed their commitment to enhance cooperation under the strategic partnership. Furthermore, Venediktov met with National Security Adviser Ajit Doval during his visit. The discussions aimed to address shared interests and strengthen ongoing relations between the nations.
